Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the following costs for the upcoming period:
Factory depreciation $33,120
Indirect labor 82,800
Factory electricity 8,280
Indirect materials 31,800
Selling expenses 22,000
Administrative expenses 29,000
Total costs $207,000
Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case:
Budgeted Volume (Cases) Processing Hours Per Case
Tortilla chips 3,000 0.25
Potato chips 6,000 0.10
Pretzels 3,500 0.30
Total 12,500
If required, round all per unit answers to the nearest cent.
Required:
a. Determine the single plantwide factory overhead rate.
b. Use the overhead rate in (a) to determine the amount Of total and per-case overhead allocated to each Of the three products under generally accepted accounting principles.
Answers
Answer:
Results are below.
Explanation:
First, we need to calculate the number of processing hours:
Processing hours= (0.25*3,000) + (0.1*6,000) + (0.3*3,500)
Processing hours= 750 + 600 + 1,050
Processing hours= 2,400
Now, we can calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 207,000 / 2,400
Predetermined manufacturing overhead rate=$86.25 per processing hour
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Tortilla chips= 86.25*75= 64,687.5
Potato chips= 600*86.25= 51,750
Pretzels= 86.25*1,050= 90,562.5
Finally, the unitary cost:
Tortilla chips= 64,687.5 / 3,000= $21.56
Potato chips= 51,750 / 6,000= $8.63
Pretzels= 90,562.5 / 3,500= $25.88
a) The single plant-wide factory overhead rate = $12.48 ($156,000/12,500) per processing hour
b. The Allocation of Factory Overhead costs are as follows:
Processing Hours Per Case
Tortilla chips $37,440 ($12.48 x 3,000) $3.12 ($12.48 x 0.25)
Potato chips 74,880 ($12.48 x 6,000) 1.25 ($12.48 x 0.10)
Pretzels 43,680 ($12.48 x 3,500) 3.74 ($12.48 x 0.30)
Total $156,000 ($12.48 x 12,500)
Data and Calculations:
Factory overhead costs:
Factory depreciation $33,120
Indirect labor 82,800
Factory electricity 8,280
Indirect materials 31,800
Total factory overhead $156,000
Budgeted Volume (Cases) Processing Hours Per Case
Tortilla chips 3,000 0.25
Potato chips 6,000 0.10
Pretzels 3,500 0.30
Total 12,500
Thus, under generally accepted accounting principles, the overhead allocated to the three products will equal $156,000.
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Related Questions
Suppose The government decides to increase taxes by 40 billion in order to increase social security benefits by the same amount if the MPC is 0.9 will aggregate demand increase decrease or remain unchanged in at current prices with this combined tax transfer policy
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Answer:
Suppose the government decides to increase taxes by $40 billion in order to increase Social Security benefits by the same amount. If the MPC is 0.9, will aggregate demand increase, decrease or remain unchanged at current prices with this combined tax transfer policy? No change Increase in AD O Decrease in AD
E-commerce is the buying and selling of goods .
Answers
E-commerce is the buying and selling of goods and services "over an electronic network known as internet".
What is the role of E-commerce on the world countries?Basically, an E-commerce fully means an electronic commerce, which refers to the companies and individuals that buy and sell goods and services over the Internet. An electronic commerce operates in different types of market segments and can be conducted over computers, tablets, smartphones and other smart devices.
Almost all imaginable product and service are now available through the ecommerce transactions including books, music, plane tickets and financial services such as stock investing and online banking
Some of the important role of E-commerce on the world economy includes promotion of efficiency of national resources allocation, optimizes the economic structure, improvement of national competitiveness etc.
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How can prices and elasticity cause colleges and universities to offer financial aid to low-income students?
Answers
The elasticity of demand for college and university education is elastic. Thus, if the price of education is high, low-income students would decide not to get education. In order to incentivise low-income students, schools offer financial aid.
What does the elasticity of demand mean?
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
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A 15-year annuity of thirty $8,000 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now.
a. If the discount rate is 11 percent compounded monthly, what is the value of this annuity 4 years from now?
b. What is the current value of the annuity?
Answers
The value of the annuity 4 years from now is $254,757.45.
What is annuity?An annuity is a financial product that provides a guaranteed income stream to an individual in exchange for a lump sum or periodic payments. The most common type of annuity is a retirement annuity, which is purchased with retirement savings and provides a regular income throughout retirement. An annuity may be fixed, where the payments are predetermined and do not change over time, or variable, where the payments are based on the performance of underlying investments. Annuities are commonly used to supplement retirement income, protect against market volatility, and provide a source of income that cannot be outlived. However, annuities can also be complex and come with fees and restrictions, so it's important to carefully consider all the factors before deciding to purchase an annuity.
PV = C * [(1 - (1 + r) ^(-n)) / r]
C = $8,000
r = 0.11 / 2 = 0.055 (11% compounded semiannually)
n = 15 * 2 = 30 (30 semiannual payments)
FV = $8,000 * [(1 + 0.055) ^30 - 1] / 0.055
FV = $342,961.86
PV = $342,961.86 / (1 + 0.055/2)^(2*4)
PV = $254,757.45
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Windsor Inc. sells prepaid telephone cards to customers. Windsor then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to the prepaid telephone cards. Assume that Windsor sells $4,100 of prepaid cards in January 2020. It then pays TeleExpress based on usage, which turns out to be 50% in February, 30% in March, and 20% in April. The total payment by Windsor for TeleExpress lines over the three months is $2,000. Indicate how much income Telephone Sellers should recognize in January, February, March, and April
1. January income?
2. February income?
3. March income?
4. April income?
Answers
Answer:
Revenues
January = $0
February $4,100 * 50% = $2,050
March $4,100 * 30% = $1,230
April $4,100 * 20% = $820
Expenses
January = $0
February $2,000 * 50% = $1,000
March $2,000 * 30% = $600
April $2,000 * 20% = $400
Operating Income
January = $0
February $2,050 - 1,000 = $1,050
March $1,230 - $600 = $630
April $820 - $400 = $420
How long has Alice Spring Tow Truck been in operation, and what services do they offer?
Answers
Based on historical facts and the company's information, the Alice Spring Tow Truck has been in operation for more than 35 years, and they offer services like equipment relocation, freight transport, and vehicle recovery services.
What is Alice Spring Tow Truck?Alice Spring Tow Truck is an Australian transport and logistics company.
The company offers various logistics services around Australia and it is located in Central Australia for over 20 years.
Alice Spring Tow Truck is known to have been in operation for varying services such as:
relocation of heavy equipment freight transport vehicle recovery services. Towing of vehicle, etc.Also, Alice Spring Tow Truck operated majorly in places like
YularaTennant CreekMarlaUluruOther regions in Central AustraliaHence, in this case, it is concluded that Alice Spring Tow Truck is a logistics servicing company.
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Natural Corporation often fails to file the annual reports required by law. They also have failed to conduct annual shareholders meeting and their bylaws have been out of date and not followed for about four years. What could be the result of this malfeasance
Answers
Answer: The shareholders could lose their investments.
Explanation:
The above scenario given in the question will lead to shareholders losing their investments. This is because the shareholders are not carried along with regards to happening in the company.
Also, the company is not filing the annual reports required by law and they also have failed to conduct annual shareholders meeting and their bylaws have been out of date and not followed for about four years. Also, their stock prices can be discounted due to improper practices.
PuLL M5 ucides diu Sdles Omalom
Sales
Purchases
20 units at $110
20 units at $120
January:
February:
May:
November:
15 units
10 units at $130
Using the weighted average inventory costing method, what is the value of the cost of goods sold on May?
$2,650
B. $2,670
C. $4,240
$1,725
Answers
Answer:
d. $1,725
Explanation:
Note: The organized question is attached below
Cost of goods available for sale as on May
=> 20 * $110 = $2,200
=> 20 * $120 = $2,400
Total cost of goods available for sale = $2,200 + $2,400 = $4,600
Weighted average cost per unit = Cost of goods available for sale / Units in inventory
Weighted average cost per unit = $4,600 / (20 + 20)
Weighted average cost per unit = $4,600 / 40
Weighted average cost per unit = $115
Cost of goods sold by using weighted average method on May = Units sold * Weighted average cost per unit = 15 * $115 = $1,725
So therefore, the value of the cost of goods sold on May is $1,725
Which of the following is an example of a secured loan?
A. A student loan
B. A personal loan
C. A car loan
D. A credit card
Answers
Which is the primary characteristic of all physical and digital sales channels?
A: Market dominance
B: Branding
C: Closing sales
Answers
Phi Beta Lambda (PBL) serves which group of students?
A- high school students
B- middle school students
C- Elementary school students
D- College students
Answers
Answer:
D: College Students
Explanation:
FBLA is for High School, so that means that Phi Beta Lambda is for College. Higher level
Answer:
A hope this help's :D
Explanation:
The following information is available for Wonderway, Inc., for 2015:
Factory rent $29,600
Company advertising 20,700
Wages paid to laborers 84,000
Depreciation for president's vehicle 8,180
Indirect production labor 1,860
Utilities for factory 30,100
Production supervisor's salary 30,800
President's salary 62,000
Direct materials used 36,200
Sales commissions 7,700
Factory insurance 12,200
Depreciation on factory equipment 26,600
Required:
a. Calculate the direct labor cost for Wonderway.
b. Calculate the manufacturing overhead cost for Wonderway.
c. Calculate the prime cost for Wonderway.
d. Calculate the conversion cost for Wonderway.
e. Calculate the total manufacturing cost for Wonderway.
f. Calculate the period expenses for Wonderway.
Answers
Answer: See explanation
Explanation:
a. Calculate the direct labor cost for Wonderway.
This will be the wages paid to laborers which is $84,000.
b. Calculate the manufacturing overhead cost for Wonderway.
Factory rent = $29,600
Add: Indirect production labor = $1,860
Add: Utilities for factory = $30,100
Add: Production supervisor's salary = $30,800
Add: Factory insurance = $12,200
Add: Depreciation on factory equipment = $26,600
Manufacturing overhead cost = $131160.
c. Calculate the prime cost for Wonderway.
Direct materials used = $36,200
Add: Wages = $84,000
Prime cost = $36200 + $84000 = $120200
d. Calculate the conversion cost for Wonderway.
Wages paid to laborers = $84,000
Add: Manufacturing overhead = $131160
Conversion cost = $215160
e. Calculate the total manufacturing cost for Wonderway.
Direct materials used = $36,200
Add: Wages paid to laborers = $84,000
Add: Manufacturing overhead = $131160
Total manufacturing cost = $251360
f. Calculate the period expenses for Wonderway.
Company advertising = $20,700
President's salary = $62,000
Add: Depreciation= $8,180
Add: Sales commissions = $7,700
Period cost = $98580
THESE ARE TRUE OR FALSE!! PLEASE HELP ASAP!! WILL MARK BRAINLIEST!!
1. Economic growth refers to a steady increase in the production of goods and services in an
economic system.
2. There are over 120 million workers in the U.S. economy.
3. The total dollar value of all final goods and services produced in a country during one year
is called the Gross Domestic Product (GDP).
4. The GDP in our economy has declined steadily for the past few years.
5. The base year used in comparing GDPs adds confusion to the comparison.
6. GDP per capita is found by dividing total GDP by the total work force.
7. Both worker training and management techniques have helped improve our productivity.
8. Changes in the business cycle form a pattern of good times to bad times and back.
9. When the economy slows down, it enters a phase of the business cycle known as recession.
10. Recovery in the business cycle occurs after a period of inflation.
Answers
true
t
Explanation:
because many workers our undergo the trainings to manage the yechques to improve his self
When is China's economy set to overtake US?
Answers
Answer:
China would overtake the US to become the world's largest economy set by 2028.
Explanation:
hope it would help.
When a supervisor repeatedly rubs the back of a female employee's neck and puts his arm around her, but does not say anything or ask for sexual favors, it is?O Hostile environment sexual harassmentO Verbal sexual behavior that creates a hostile environment
O Unwelcome requests for sexual favors
O Unwelcome sexual advances
Answers
When a supervisor repeatedly rubs the back of a female employee's neck and puts his arm around her, but does not say anything or ask for sexual favors, it is a form of unwelcome sexual advances. Option B
Unwelcome sexual advances refer to any advances of a sexual nature that are unwanted or uninvited by the person to whom they are directed. These advances may be verbal, physical, or visual and may be explicit or implicit. Any unwelcome conduct of a sexual nature that creates an intimidating, hostile, or offensive work environment may constitute sexual harassment.
In this case, the supervisor's behavior can be considered unwelcome sexual advances because he is physically touching the employee in a manner that is intimate and suggestive, even though he is not saying anything or asking for sexual favors. The repeated nature of the behavior can also contribute to the creation of a hostile work environment, which is another form of sexual harassment.
It is important for employers to take a proactive approach to preventing sexual harassment in the workplace. This may include providing training to employees on what constitutes sexual harassment, establishing clear policies and procedures for reporting harassment, and enforcing consequences for employees who engage in harassing behavior.
Overall, any behavior that creates an unwelcome or intimidating work environment can be considered sexual harassment. Employers have a responsibility to ensure that their workplaces are free from harassment and to take swift action when harassment is reported or observed. Option B.
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(100 Points!) What huge non-fiction sub-genre includes photojournalism, documentary photography, and travel photography?
A. nature
B. scientific
C. life
D. military
Answers
Answer:
life
Explanation:
Lacking, then, a truly precise definition, Documentary Photography is best thought of as an umbrella term that encompasses many styles and themes including: Social Documentary; Conservation Photography; Ethnographic Photography; War Photography; the photo essay; New Documents; and Social Landscape photography.
Here to confirm that the answer is indeed B) Life
Good luck to those in the future, these questions are hard to find on brainly right now.
management approval of sanlam
Answers
Answer:
Hello!
What is nedded here?
Which business is exempt from using the accrual basis for accounting? A clothing manufacturer that has average gross annual receipts of $35 million over the last three years. An online retailer that has average gross annual receipts of $45 million over the last three years. A construction contractor who does not have any outstanding accounts receivable at the end of the tax year. A home improvement store that just began business last year and had $2.7 million in gross receipts.
Answers
Answer:
A home improvement store that just began business last year and had $2.7 million in gross receipts.
Explanation:
The IRS allows only a limited number of businesses to use cash basis accounting and in order to do so, the business must be:
Partnership or C corporation with less than $5 million in total sales revenue per yearSole proprietorship or S corporation with less than $1 million in total sales revenueCannot be a publicly traded corporationPersonal service businesses with more than 95% of revenue specifically related to services. Family owned farms with total annual sales revenue less than $25 million.Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?
Answers
Using the appropriate tool from the Accountant Tools menu, the 4 options that can be batch reclassified in QuickBooks Online Accountant are options A, B, C and F:
ClassesCustomersProducts and ServicesAccountWhat is QuickBooks Online Accountant?In the above question, too batch reclassify these items, you can use the "Batch Reclassify Transactions" tool, which can be found under the Accountant Tools menu.
This tool allows you to select multiple transactions and reclassify them to a different account, class, customer, or product/service.
Therefore, Locations, tax codes, and suppliers cannot be batch reclassified using this tool. However, you can edit individual transactions to change their location, tax code, or supplier if necessary.
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See full question below
Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?
Classes
Customers
Products and Services
Locations
Tax Code
Account
Suppliers
Your losses from a stolen ATM card are unlimited if you fail to report unauthorized use within 30 days after your statement is mailed to you.
a. True
b. False
Answers
Cogswell cola purchased a machine for $237,500. The firm paid another $5,750 for delivery and installation. In addition the firm will have to hire another employee and pay them $50,000 per year to run the machine. What is the initial outlay for this machine?.
Answers
Based on the cost of purchasing the machine and the delivery and installation fees, the initial outlay is $243,250
How much is the initial outlay?This can be found as:
= Cost of purchasing machine + Installation and delivery cost
Solving gives:
= 237,500 + 5,750
= $243,250
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Potts company uses a job costing system and had the following data available for 20X9.
Cost of raw materials purchased on account $ 75,000
Cost of raw materials requisitioned(includes
$2,000 of indirect materials) $ 43,000
Direct labor cost incurred $ 75,000
Manufacturing overhead costs incurred $ 95,000
Cost of goods completed $ 226,750
Cost of goods sold $ 138,000
Raw materials inventory, Jan. 1, 20X9 $ 15,000
Work in process inventory, Jan. 1, 20X9 $ 32,000
Finished goods inventory, Jan. 1, 20X9 $ 31,000
Pre-determined manufacturing overhead rate 125% (as a percent of direct labor cost)
Refer to Case 1.
The journal entry to record the total materials placed into production would include which of the following?
A) debit to manufacturing overhead for $41,000
B) debit to work in process for $43,000
C) debit to work in process for $41,000
D) credit to manufacturing overhead for $2.000
Refer to Case 2.
The journal entry to record the actual manufacturing overhead costs incurred would include which of the following?
A) debit to manufacturing overhead $95,000
B) debit to work in process for 93.750
B) credit to work in process $95,000
C) credit to manufacturing overhead $93,750
Answers
Answer:
1. C) debit to work in process for $41,000
2. A) debit to manufacturing overhead $95,000
Explanation:
1. The materials that were placed into production are:
= Cost of raw materials requisitioned - indirect materials
= 43,000 - 2,000
= $41,000
This will be debited to the Work in Progress as it is a direct cost.
2. Manufacturing overhead for the period is $95,000 and this will go to the manufacturing overhead account as a debit because it is an expense.
Listed below are selected transactions of Schultz Department Store for the current year ending December 31.
1. On December 5, the store received a deposit from the Selig Players to be returned after certain furniture to be used in stage production was returned on January 15. $ 500
2. During December, cash sales were received, which include the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. $ 798,000
3. On December 10, the store purchased for cash three delivery trucks. The trucks were purchased in a state that applies a 5% sales tax. $ 120,000
4. The store sold 25 gift cards for $100 per card. At year-end, 20 of the gift
cards are redeemed. Schultz expects three of the cards to expire unused.
Number of gift cards sold 25
Value of each gift card $ 100
Number of cards unredeemed at year-end 20
Number of cards expected to expire unused 3
Instructions
Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity, assume that adjusting entries are recorded only once a year on December 31.
NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.
Debit Credit
1. Dec.5
2. Dec. 1 - 31
3. Dec. 10
4. Dec. 31
Dec. 31
Answers
The journal entry of Department Store for the current year ending December 31 is given below:
What are journal entries?Journal entries are the entries made to document the transactions carried out by the company. The books of accounts have a record of every dollar that comes in and goes out. The transactions that are documented are in the book of accounts and are examined and audited for surplus payments or deficits, which are the most frequent errors to be discovered over recording, after they have been made. Below are the diary entries related to the context that are attached.
Date Particular Amount (Dr) Amount(Cr)
1 Dec 2005 cash 500 500 2 Dec 31 cash 798,000
Sales 760,000
Sales Taxes Payable 38,000
(Being sales recorded)
3. Dec 10 Delivery Truck 126,000
cash 126,000 4. Dec 31 cash 126000
Sales 2500
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Which type of investment is not typically part of an income investment strategy? A. Dividend-paying stocks B. Mutual funds C. Savings account D. Real estate
Answers
Answer: savings account
Explanation:
Income investment strategy seek to do: dividend paying stocks, short term bonds, mutual funds, real estate
Savings account is not typically part of an income investment approach.
What is a savings account?An account in a retail bank is a savings account. Common characteristics include a cap on withdrawals, no check-writing or debit card capabilities, few transfer alternatives, and no overdraft protection. Savings account transactions were typically recorded in a passbook in the past, hence the term "passbook savings accounts," and bank statements were not typically supplied. Nowadays, same transactions are typically recorded electronically and are available online.
There are many different kinds of savings accounts, many of which have specific functions. These can include money market accounts, retirement accounts, Christmas club accounts, investment accounts, and accounts for young savers. Some savings accounts additionally have additional unique criteria, like a minimal opening deposit, regular deposits, and withdrawal notices.
What is an income investment approach?Building a portfolio of investments that is especially designed to produce consistent income is at the core of the investment approach known as income investing. The only goal of the income investing approach is to produce a steady flow of income. Dividends, bond yields, and interest payments are all examples of the consistent income.
A capital appreciation approach, which focuses on investing in businesses with the potential for considerable long-term growth, is essentially the reverse of an income investment strategy. By holding shares of companies that often reinvest retained earnings for expansion rather than paying them out to investors in this situation, an investor is putting less faith in dividends and more faith in price appreciation.
The main objective of income investing is to generate passive income for the investor. Stocks that could experience significant price increases in the future are less appealing to investors. Instead, they focus on businesses that have a history of regularly delivering dividends to their shareholders.
Investors can approach income investing in a variety of ways depending on their investment objectives and portfolio management techniques.
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Following are the number of automobile accidents that occurred at 60 major intersections in a certain city during the fourth of July weekend: 0 2 5 0 0 5 0 1 3 1 1 0 2 4 3 0 1 2 0 3 0 1 21 6 5 3 0 a) Group these data into a frequency distribution showing how often each of the values occur and draw a bar chart. 4 4 5 2 1 0 4 3 4 0 4 0 1 6 2 1 2 фодNN 2 4 5 230 2 1 1 4 2 2 4 0 1 0 b) Convert the distribution obtained in (a) above into a cumulative "or more "distribution and draw its ogive. Following are the number of automobile accidents that occurred at 60 major intersections in a certain city during the fourth of July weekend : 0 2 5 0 0 5 0 1 3 1 1 0 2 4 3 0 1 2 0 3 0 1 21 6 5 3 0 a ) Group these data into a frequency distribution showing how often each of the values occur and draw a bar chart . 4 4 5 2 1 0 4 3 4 0 4 0 1 6 2 1 2 фодNN 2 4 5 230 2 1 1 4 2 2 4 0 1 0 b ) Convert the distribution obtained in ( a ) above into a cumulative " or more " distribution and draw its ogive .
Answers
Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
Answers
If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
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What are payroll taxes?
Answers
Answer:
This is all the information I could find.
Identify the features of stocks and bonds.
coupon rate
face value
closing price
maturity date
Stock? Bond ?
Plato/edmentum unit 3 finance
Answers
Answer:
Stocks:
closing price maturity rateBonds :
Coupon rate Face valueExplanation:
A stock entitles the holder to dividend payments and gives ownership right of a company to the holder.
The closing price of a stock is the last price that the stock sells for at the end of a trading session
A bond is a debt instrument.
A company borrowed cash from the bank by signing a 5-year, 8% installment note. The present value for an annuity (series of payments) at 8% for 5 years is 3.9927. The present value of 1 (single sum) at 8% for 5 years is .6806. Each annual payment equals $75,000. The present value of the note is:
Answers
Answer: $299,452.50
Explanation:
The company will pay back $75,000 every year for 5 years. This is an Annuity as the payments are constant.
The Present Value = Annuity * ( Present Value Interest Factor of an Annuity for the year and interest)
Present Value = 75,000 * 3.9927 ( Present value Interest Factor of an Annuity at 8% for 5 years)
= $299,452.50
In which of these do homeowners own BOTH the home and the
land it sits on?
cooperative
timeshare
condominium
townhouse
Answers
Answer:
time share is the answer or townhous